ATLANTA — JLL’s Capital Markets group has arranged a $421.8 million refinancing for Piedmont Center in Atlanta. The 2.2 million square foot, 14-building, Class A office complex is located on Piedmont Road NE in Atlanta’s Buckhead submarket.
Proceeds from the loan were used to purchase four additional office buildings within the complex and to refinance the debt of Ardent’s existing holdings within Piedmont Center. The tenant roster includes technology, healthcare and professional services companies.
The area is served by a MARTA Station that provides transportation throughout the city of Atlanta, as well as several thoroughfares such as Georgia 400 and Peachtree, Roswell and Lenox roads. The office space is located four miles north of Midtown, which offers amenities from museums to shopping to recreation.
JLL’s Capital Markets team represented the borrower, The Ardent Cos., in the transaction to secure the floating-rate loan from a bank lender. Matt Casey and Ed Coco led the JLL Capital Markets team, while JLL’s brokerage team of David Horne and Jeff Taylor won the assignment to lease buildings five through eight.
“Through its consolidation of ownership within Piedmont Center, Ardent has created a huge opportunity to reinvent the office campus into a more dynamic workplace setting with greater mixed-use amenities and an environment desired in today’s market,” says Coco. “We look forward to seeing the transformation in the years ahead.”
Based in Chicago, JLL is a professional services firm that specializes in real estate and investment management with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021.
Ardent is a privately held real estate firm focused on opportunistic and diversified investment strategies.
— Madison Pettway